JPMorgan Chase & Co. (NYSE:JPM): Current price $46.27
Some 121 positions will be lost as a unit of JPMorgan Chase closes a Coppell facility. In a letter to the Texas Workforce Commission, the firm reported that its “Independent Foreclosure Review” unit will start layoffs about March 10th at the Coppell office in Dallas, saying that “The terminations from the mortgage bank’s independent foreclosure review business will be permanent as the business has ceased to exist.”
A new breed of small SUV, called CUVs or compact crossovers, has begun to make its mark.This is a new product segment for Buick and although it is small, it should attract new buyers to the company during a time when GM’s chairman predicts that there will be a gain in U.S. market share. Last year, GM’s U.S. share saw a decline to 17.9 percent, dropping from 19.6 percent. According to financial analysts, it is necessary for GM to stem share loss in the U.S. and to prove it was able to regain stability after its bankruptcy in 2009.
ATLANTA, Jan. 10, 2013 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (BXC), a leading distributor of building products in North America, expects to report a fourth-quarter net loss per diluted share in the range of $0.16 to $0.22 based on the Company's preliminary unaudited results for the fourth quarter ended December 29, 2012, compared to a net loss of $0.17 per diluted share for the fourth quarter of fiscal 2011. Revenue for the fourth quarter is expected to be approximately $440 million, an increase of 12.5% from $391.1 million for the fourth quarter of fiscal 2011. Gross profit margin for the quarter is expected to be approximately 11.9%, compared with 12.3% for the fourth quarter of fiscal 2011. Net loss included a pre-tax net gain of $0.2 million, or $0.00 per diluted share, and $3.9 million, or $0.07 per diluted share, from significant special items in the fourth quarter of 2012 and 2011, respectively.
One of David Einhorn’s highest-profile bets has turned against him.
Mr. Einhorn, the hedge fund manager who runs Greenlight Capital, had a setback in his short-selling position in Green Mountain Coffee Roasters, as the stock rose during the fourth quarter, he said Tuesday in a letter to investors. The stock’s 74 percent climb wiped out the position’s 2012 profits, Mr. Einhorn said.
It was a rough three months for Greenlight over all, as a 4.9 percent loss during the quarter pared the yearly performance down to a gain of 7.9 percent. Still, Mr. Einhorn said, the firm is largely sticking with its strategy.
Steel Dynamics (STLD) has plenty of things going in its favor. It's one of the best managed steel companies in the United States; it has a low, highly variable cost structure, which has helped it post superior margins throughout the last two challenging years for the steel markers. It has a diversified product mix, a secure supply of recycled ferrous metals, and an experienced senior management team.
Steel dynamics has one of the lowest operating cost structures in the North American steel industry. The company's low operating costs are driven by high labor efficiency as well as a transportation cost advantage in the upper Midwest.
STLD is also well positioned to benefit from improving steel demand, with end-markets including construction, automotive, machinery all showing signs of improvement. For dividend seeking investors STLD also has a very attractive dividend yield of 2.6%.
The coal mining industry has experienced major struggles in 2012 as warm temperatures and the emergence of natural gas as a cheaper alternative have caused demand for the commodity to plummet. The Market Vectors-Coal ETF (KOL) has fallen 25 percent year-to-date. The Paragon Report examines investing opportunities in the Coal Industry and provides equity research on Cloud Peak Energy Inc. ( NYSE : CLD ) and Patriot Coal Corporation ( PINKSHEETS : PCXCQ ).